So far this year, average mortgage rates have stayed stubbornly high, bouncing between 6.5% and 7%, as financial markets weigh the risks of both higher inflation and an economic slowdown. Most homeowners, unable to save money by refinancing, are holding out for bigger rate drops.

Assuming a 3.5% down payment and excluding tax and insurance, the typical payment at today’s 6.67% mortgage rate on a median-priced $440,000 home is roughly $2,731 per month. Last week, a median-priced home at a 6.77% mortgage rate would have cost homebuyers $2,760 per month—$29 more than what buyers would pay today.

Mortgage interest rates are consistently declining again. Here are three things homebuyers should do in response.